Staying simple is Wal-Mart’s new approach to Black Friday
In an effort to score big on Black Friday, Wal-Mart says that it is simplifying its schedule for rolling out deals this year and has made a big push to ensure that shoppers do not find that key items are out of stock.
The world’s largest retailer plans to kick off its in-store sale at 6 p.m. on Thanksgiving, the same time as last year. But based on customer feedback, the company is retreating from an approach it tried last year — with which it staggered deals so that some began later in the evening or even on Friday.
“Fundamentally, the customers are asking for ‘Make it simple for me. Give it to me all at one time,’ “said Steve Bratspies, chief merchandising officer for Wal-Mart U.S.
The retailer is also moving to have more synchronization between its online deals and in-store deals, with 96 percent of specials available in both channels this year, a share that executives said is up significantly from last year.
All year long, Wal-Mart U.S. chief executive Greg Foran has been pushing for his 4,600 stores to become cleaner, more organized and better stocked in order to increase foot traffic and heat up what has largely been lukewarm sales growth.
That broader strategy is a backdrop for the retailer’s decision to set aside more inventory this year in key holiday-season categories such as electronics and toys. Most Black Friday specials — such as a $125 32-inch HD TV or a $59 Fitbit Flex wristband — are available in limited quantities. But this year, Wal-Mart said it stocked enough so that hundreds of customers at each store, not just dozens, would get the item they came for.
Wal-Mart’s online sale is set to start at 12:01 a.m. Pacific time on Thanksgiving, and executives said they will be using data from those early website visits and transactions to shape in-store displays and merchandising later that day.
Foran said he is particularly optimistic about Wal-Mart’s toy sales this season.
“I think this department is probably going to be in for the biggest Christmas it has had in a long time,” Foran told reporters Wednesday from the toy aisle at a Wal-Mart store in Secaucus, N.J.
The holiday season is always crucial for Wal-Mart, but investors this year are likely to be watching closely for signs of momentum at a company that recently saw its stock plunge when it cut its profit outlook.